Financing, tax rates, and accounting
Guys,
I have an issue with my product cost, Initially, when I was adding the product into the store, I have added the cost wrongly for the product. After sell started and now I generated the report, it shows overall minus gross profit due to wrong product cost mentioned for the product. I tried to update the cost and now it shows updated product cost, but somehow the updated product cost does not reflect in the report which is generating.
Question to experts: Is it is the only way in Shopify that it will reflect the updated product cost for the old sale? and it will only start showing for a new sale. ?
For example: For Feb 2022, when we added the product into the shop, the product cost was $9, and the selling price was $6 till yesterday.. when I realized the wrong cost which running the report, I have corrected it and then re-run the report. like new cost is $2 and selling price is $6, and then ran the report, but looks like the cost is not getting updated for old sale, and it is only updating for a new sale.
Need your help to fix the reporting..
Thanks,
Kiva
Solved! Go to the solution
This is an accepted solution.
Hi @Kivaz
Thank you for reaching out here.
You're right. The system will automatically record and update the new information for new sales after making a change and the old sale information will not be affected or updated.
The best way is you have to export a report to a CSV file and change them on your own.
If you feel this answer is helpful, please mark it as a Solution.
Best regards.
This is an accepted solution.
Hi @Kivaz
Thank you for reaching out here.
You're right. The system will automatically record and update the new information for new sales after making a change and the old sale information will not be affected or updated.
The best way is you have to export a report to a CSV file and change them on your own.
If you feel this answer is helpful, please mark it as a Solution.
Best regards.
Thanks a lot.. Is there any workaround that old sales can also be updated in the system?
Hi @Kivaz
As far as I know, there a no way to get around this issue. Just export them into a CSV file and update the wrong information by yourself.
Best regards.
Poor solution. Shopify has many shortcomings. This one of them. In the older version of Lightspeed, you could quickly click on sale and update cost basis. Should be the same for Shopify but system is designed by people that have never owned a business. Disappointing.
And it costs another $19 US a month.
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